Sometimes it takes getting creative to save a buck. The same applies to when you're trying to keep money within your business. With so many variables that go into maintaining a company, it can be difficult to hone in on the best ways to cut costs in each scenario. Here are three money-saving ideas from Brent Cherne, prominent financial executive and CPA, to consider implementing:
Offer an Internship
It may sound unreasonable, but to a college student looking for less expensive ways to get through classes, it could seem like a realistic option. If you have contacts from your alma mater, reach out to them and see if any of the professors in the appropriate department would be willing to accept an unpaid internship as credit hours.
Students are often looking for ways to boost their experience and their resume. There are various websites you can utilize to find students looking for work experience. Consider listing a new job opportunity on internships.com, which is one of the world's largest marketplaces for internships.
Outsourcing Administrative Needs
Administrative needs such as data entry are easy to outsource to reputable online companies with strict vetting guidelines and quick turnaround. Data entry is ideal for people who work from home, and for students looking to earn a little bit of extra cash. Bids come in at as low as $1 per task.
Websites such as UpWork.com and Fiverr.com are great resources where you can get in touch with freelancers who specialize in a variety of different functions. You can even find a virtual assistant to help out a few hours a week.
Switch Out the Answering Service for a Family Plan
As the age of the internet continues to dominate the way that people communicate with each other, specific apps have emerged which offer free calls and zero data usage as long as you stay connected to a wi-fi hotspot. You pay for the data. You can purchase as many lines as you want and as much data as you want, but as long as each member of the plan using his phone is within range of a wi-fi hotspot, the app will default to using wireless internet service to complete the call or surf the web. Family plans start as low as $19.99.
Saving your business money may take some thinking outside of the box, but seeing if you can swap one service for another is an excellent place to start.
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